On July 20, this BSE 100 company is in the news; find out why?

Mindtree and Rubrik Partner are planning to launch a Unified CyberRecovery Platform.

Mindtree - a Larsen & Toubro Group company is a global technology consulting and services company that enables enterprises across industries to drive superior competitive advantage, customer experiences, and business outcomes by harnessing digital and cloud technologies. It brings extensive domain, technology, and consulting expertise to help reimagine business models, accelerate innovation and maximize growth.

The company announced that it has partnered with Rubrik, the Zero Trust Data Security Company, to launch a unified cyber-recovery platform named Mindtree Vault.

The platform combines Mindtree’s program management, cloud, data, and cyber security capabilities, best practices, and accelerators, with Rubrik’s data resilience, data observability, and data recovery capabilities. It enables organizations to work through the full scope of recovery, including assessment, discovery, migration with ongoing management services, and pilots for proof-of-concept projects. By empowering organizations to quickly shift to data-driven models, ensure data is immutable, and enhance their ability to guard against cyber-attacks as well as swiftly recover from them, the platform delivers a seamless experience and a key component of an organization’s data security posture.

In the June quarter, on a consolidated basis, the company’s net revenue increased 36.19% YoY to Rs 3121.10 crore. The PBIDT (ex OI) jumped 41.68% YoY to Rs 658.10 crore. Similarly, the PAT climbed 37.33% YoY to Rs 471.60 crore.

On the valuations front, the company is trading at a TTM PE of 28.15x against the industry PE of 25.86x. In FY22, the company generated an ROE and ROCE of 33.94% and 46.17%, respectively.

On Wednesday, at 11:30 am, shares of Mindtree Ltd are trading at Rs 3110.40, an increase of 2.30% from the previous closing of Rs 3040.55 on BSE. The company has a 52-week high of Rs 5059.15 and a 52-week low of Rs 2650.